FTSE CLOSE: London stocks dive into the red; services sector activity beats forecasts; housebuilders Barratt and Berkeley post robust profits
The FTSE 100 closed down 74.58 points at 7383.28 and the pound was at $1.29 against the dollar.
Housebuilder Barratt Developments has posted a hefty rise in annual profits and hailed an ‘outstanding’ year. Barratt said market conditions remain good despite reports that Help to Buy will be scrapped in 2021, as well as a warning from rival firm Berkeley today over Brexit.
Retailer Quiz, which floated last year, warned that its profits will be hit to the tune of £400,000 by the collapse of House of Fraser and the chain’s subsequent takeover by Sports Direct.